Wayve, a London maker of artificial intelligence systems for autonomous vehicles, said on Tuesday that it had raised $1 billion, an eye-popping sum for a European start-up and an illustration of investor optimism about A.I.’s ability to reshape industries.

SoftBank, the Japanese conglomerate that backed Uber and other tech companies, was the lead investor, along with Microsoft and Nvidia. Previous investors in Wayve include Yann LeCun, Meta’s chief A.I. scientist.

Wayve, which had previously raised about $300 million, did not disclose its valuation after the investment.

Wayve was co-founded in 2017 by Alex Kendall, a Cambridge University doctorate student focused on computer vision and robotics. Unlike generative A.I. models, which create humanlike text and images and are being developed by OpenAI, Google and Anthropic, the so-called embodied A.I. systems made by Wayve serve as the brains for physical objects, be they cars, robots or manufacturing systems. The A.I. allows a machine to make real-time decisions on its own.

“The full potential of A.I. is when we have machines that are in the physical world that we can trust,” Mr. Kendall said.

Companies focused on autonomous driving are facing a bumpy period. The technology is expensive and difficult to build and faces intense regulatory scrutiny. Cruise, the General Motors self-driving subsidiary, removed its driverless cars from the road last year amid safety and legal concerns. Apple recently abandoned its self-driving car efforts after years of development.

source

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Incandescent Bulb Ban Renews a Squabble Over the American Home

The switchboard at Lightbulbs.com, a (pretty self-explanatory) e-commerce website, lit up with…

Russia’s Online Censorship Has Surged During Ukraine War

What’s the difference between Russia’s internet before and after the invasion of…

U.K. Inflation Eases to 6.8% as Energy Prices Fall

The News Inflation in Britain rose last month at its slowest pace…

New York Times Revenue Rises 6.3%

The New York Times added 180,000 new digital subscribers in its second…